Food ministry officials Thursday said tough measures, including imports, would be taken to check hoarding of wheat and assured that India has sufficient stocks to meet domestic requirements.
"The wheat stock in the central pool is sufficient to meet the requirement of the public distribution system (PDS), welfare schemes of other ministries and the employment generation scheme of the rural development ministry," S.K. Tuteja, secretary, department of food and public distribution, said here.
"We can fulfil the country's requirements but we will not hesitate to import if need be," said Tuteja, attributing the spiralling domestic cost of wheat to hoarding.
So far, the government has procured 14.77 million tonnes of wheat in addition to the buffer stock requirement of two million tonnes.
The total procurement of wheat during 2004-05 was 16.79 million tonnes.
Though there is no target fixed for procurement, the purchase of wheat from the markets by government agencies would continue till June 30, the official said.
In the case of rice, the central pool has a stock of over 22.4 million tonnes as on June 8 as against 22.8 million tonnes during the same period in 2003-04.
"There will be no change in the scale of issue and price of wheat sold to families below poverty line (BPL) in the public distribution system," Tuteja assured.
The stock available in the central pool is sufficient to meet the requirements of PDS and the demands of the open market, he maintained.
As on July 1, the wheat stock in the central pool will be about 18.8 million tonnes against a buffer norm of 17.1 million tonnes, according to estimates.
"The government decided not to export wheat from the central pool. From Oct 1 last year, there has been no wheat export from India," Tuteja said.
Tuteja also mentioned that the availability of sugar in the country is comfortable with about 1.8 million tonnes of raw sugar having been imported so far.
Indo-Australia committed to resolve agri-trade issues
Publish Date : 3/3/2007 7:21:00 AM
The agri-trade has become a very contentious issue in the World Trade Organisation (WTO), but India and Australia have agreed to resolve issues coming in the way of trade in agricultural goods by setting up a mechanism.
RBI to absorb more liquidity to contain inflation
Publish Date : 3/3/2007 7:11:00 AM
In a bid to further contain inflation, Reserve Bank of India today announced a modified market stabilisation scheme (MSS) and liquidity adjustment facility (LAF) to suck out Rs 11,500 crore from the system.
Gold and Silver prices turn distinctly weak
Publish Date : 3/3/2007 7:03:00 AM
Both the precious metals today turned distinctly weak on the bullion market as silver plunged by Rs 570 and gold by Rs 155 on heavy stockists offerings tiggered by sharp fall in the global markets.
Further fall in gold and silver prices
Publish Date : 3/2/2007 7:06:00 AM
Both the precious metals continued to decline on the bullion market here today on sustained offering from stockists in view of fall in the international markets.
Rupee ends marginally up at 44.26/27 a dollar
Publish Date : 3/2/2007 7:03:00 AM
The rupee today ended marginally higher at Rs 44.26/27 a dollar, supported by a smart recovery on equity markets coupled with fresh exporters' dollar sales.
Hyundai domestic sales up 74 pc in Feb
Publish Date : 3/2/2007 7:01:00 AM
Hyundai Motor India today reported a 74 per cent increase in its domestic vehicle sales during February at 15,459 units compared to the same month last year.
Hutchison Telecom files caveat fearing legal move by Essar
Publish Date : 3/2/2007 6:59:00 AM
Hong Kong-based Hutchison Telecom has filed a caveat before the Bombay High Court to ensure that its plea is heard in case Essar moves the court, challenging the the foreign partner's decision to sell stake to Vodafone.
Skoda slashes car prices up to Rs 24,000
Publish Date : 3/2/2007 6:56:00 AM
As car makers Maruti and Hyundai announced a hike in prices, luxury car maker Skoda Auto today slashed prices across all models by up to Rs 24,000 citing reduction in customs duty on imported car parts in the Budget.
Bond prices continue to decline
Publish Date : 3/1/2007 8:30:00 AM
Government bond prices continued to decline on persistent selling while call rates eased in view of ample liqudity in the system.
India should be more conscious of global developments: RBI
Publish Date : 3/1/2007 8:19:00 AM
The Reserve Bank of India today said the steep fall in Indian stock markets was a contagious effect of plunge in overseas bourses and the country should have strong market and regulatory mechanism to avoid disruption in markets.
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